Commercial Virtual Cards

Virtual cards offer a unique combination of benefits to businesses using them to make online purchases:

A new unique virtual card can be created for each transaction, and associated with data such as order number, booking reference, etc so that payment reconciliation can be automated.

Fraud can be limited by activating the card only for a limited window of time just when it is needed to make transactions, and only usable at certain categories of merchants to reduce scope for abuse.

Virtual cards for business use return a percentage of the amount spent in a form of cashback. This can be used to make the service free to end-customers, or offered as a rebate on transactions.

Use commercial virtual cards for

  • Supplier Payments

    Part of a procurement solutions, especially where the supplier is not on-boarded in the procurement system but accepts cards at checkout.
  • Purchase on Behalf of (POBO)

    Solutions for concierge services to remotely purchase goods and services on behalf of their clients.
  • Managing Employee Expenditure

    mobile workforce can pay for expenses via an app, supporting request and approval process, reporting, and spend-category blocking.
  • Marketplace Payments

    whereby the payments can be integrated into the purchasing experience for both buyer and seller.
  • Managing Subscription Payments (B2B)

    tracking subscription expiry and only loading funds on the registered card if a positive approval is made for renewal.

Adaptive and scalable

Weavr has launched in the EEA and is currently supporting 3 currencies and one card scheme. Watch this space as more are added.

Pricing

Our pricing strikes a balance between being simple and competitive. There are no setup fees and no minimum monthly payments. Just buy a bundle of services that’s right for you and once you’ve used it up, get another one.
Charges and Revenues
Bundle Type
TestStartRunGrowScale
£1000£2000£5000£12,500£25,000
Validity Period3 months6 months12 months12 months12 months
Debit Card Charges
  Settlement - Domestic£0.45+1.10%£0.40+1.05%£0.35+1.00%£0.32+0.95%£0.30+0.90%
  Settlement - Intra EEA£0.45+1.10%£0.40+1.05%£0.35+1.00%£0.32+0.95%£0.30+0.90%
  Settlement - Outside EEA£0.80+1.65%£0.75+1.60%£0.70+1.55%£0.65+1.50%£0.60+1.45%
 
Funding Account Charges
  Open business account (IBAN) in € only£18.00£18.00£18.00£18.00£18.00
  Receive funds - consumer£1.20£1.20£1.20£1.20£1.20
  Receive funds - business£6.00£6.00£6.00£6.00£6.00
  Withdraw - B2C£10.50£10.50£10.50£10.50£10.50
  Withdraw - B2B£15.50£15.50£15.50£15.50£15.50
 
AML Compliance Charges
  PEP & Sanctions check - 1st check£0.40£0.36£0.33£0.31£0.30
  PEP & Sanctions check - per month (reqd)£0.16£0.15£0.14£0.13£0.12
  ID verification inc liveness & age£1.75£1.65£1.60£1.55£1.50
  Proof of address verification£0.95£0.90£0.85£0.80£0.75
  Sole trader registration docs check£6.00£6.00£6.00£6.00£6.00
  Ltd liability company registration docs check£20.00£20.00£20.00£20.00£20.00
 
Revenues
  Interchange - indicative (pass through basis)
    Consumer cards, purch. in EEA up to0.20%0.20%0.20%0.20%0.20%
    Consumer cards, purch. outside EEA up to1.15%1.15%1.15%1.15%1.15%
    Commercial cards, purch. in EEA up to1.65%1.65%1.65%1.65%1.65%
    Commercial cards, purch. outside EEA up to2.00%2.00%2.00%2.00%2.00%
  Foreign exchange markup, up to3.00%3.00%3.00%3.00%3.00%
 
Discounted pricing is available for higher volumes of activity – please contact us if you would like us to quote. All prices are quoted exclusive of VAT.

v 2019.12.03 - Extract. For full pricing information see Terms and Conditions

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